Question

Rani took a loan of ₹20,000 from the bank. She paid ₹1000 per month for 2 years. How much did she pay totally?

• A. ₹22,000
• B. ₹24,000
• C. ₹20,000
• D. ₹26,000

Answer 1

The correct option is B ₹24,000

Amount paid monthly $=₹1000$
1 year has 12 months. So, 2 years will have 24 months.
Amount paid for 2 years $=24\times ₹1000=₹24000$

$\therefore$ Rani paid ₹24000 to the bank for 2 years.